Steel Partners Holdings L.P., through its subsidiaries, engages in industrial products, energy, defense, supply chain management, logistics, banking, and sports businesses worldwide. It operates through Diversified Industrial, Energy, and Financial Services segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; manufactures and supplies fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and manufactures sheet and mechanically formed glass, quartz, carbon, and aramid materials for specialty applicatio...
590 Madison Avenue
New York, NY 10022
Founded in 1990
Steel Partners Holdings L.P. Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Announces Non-Cash Asset Impairment Charges for the Fourth Quarter of 2017; Provides Earnings Guidance for the First Quarter and Full Year 2018
Mar 9 18
Steel Partners Holdings L.P. announced earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company’s revenue increased to $335.3 million from $318.5 million for the same period in 2016. Loss before taxes, associated companies and other investments held at fair value was $1.6 million compared with a loss of $18.5 million for the comparable 2016 period. Net loss attributable to the company's common unit holders was $14.2 million, or $0.55 per common unit, compared with $15.4 million, or $0.59 per common unit, a year ago. Net loss was $17,513,000 compared to $22,701,000 a year ago. Capital expenditures were $16,822,000 compared to $15,450,000 a year ago. Adjusted EBITDA were $38,721,000 compared to $37,237,000 a year ago.
For the year, the company’s revenue was $1,372,027,000 compared to $1,163,549,000 a year ago. Income before taxes, associated companies and other investments held at fair value was $40,423,000 compared to $22,438,000 a year ago. Net income was $6,012,000 compared to $2,571,000 a year ago. Net loss attributable to common unit holders was $16,000 compared to net income attributable to common unit holders of $6,630,000 or $0.25 per basic and diluted share a year ago. Capital expenditures were $54,737,000 compared to $34,183,000 a year ago. Adjusted EBITDA were $164,048,000 compared to $148,873,000 a year ago.
For the quarter, the company announced non-cash asset impairment charges of $2,028,000 compared to $5,732,000 a year ago.
The company provided earnings guidance for the first quarter and full year 2018. Based on current information, the company expected 2018 first quarter revenue between $332 million and $386 million and Adjusted EBITDA between $30 million and $37 million.
The company anticipates revenue for the full 2018 year between $1.5 billion and $1.6 billion and adjusted EBITDA between $184 million and $225 million. These forecasts include the expected operating results of Dunmore Corporation from the date of acquisition. The company expects CapEx over the next year or 2 to remain at the level in and around 2017 level.
Steel Partners Holdings Declares Regular Quarterly Distributions on its Series A Preferred Units, Payable on March 15, 2018
Feb 26 18
Steel Partners Holdings L.P. has announced that its board of directors has declared a regular quarterly cash distribution of USD 0.375 per unit, payable March 15, 2018, to unitholders of record as of March 1, 2018, on its 6% Series A Preferred Units, no par value.